NZ: Q2 GDP growth expected to rebound - Westpac

Sandeep Kanihama FXStreet Contributor

New Zealand’s GDP growth is expected to rebound in Q2 following a couple of quarters of softer growth, according to analysts at Westpac.

Key Quotes

“We are forecasting a 0.8% rise in Q2 GDP, which is below the RBNZ’s forecast of 0.9%.”

“In part, the expected firmness in Q2 reflects a rebound from the temporary earlier softness in the agricultural and transport sectors. Moreover, firmer retail spending in Q2 underpinned by strong population growth and tourism is expected to lend a boost to GDP growth.”

“Balanced against these upside factors, we are seeing signs of softness within the construction and manufacturing sectors.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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